New York (AWP / AFP) – Oil prices ended unorganized Sunday, the market questioned the true extent of tightening US sanctions against Iran.
In London, Brent North Sea crude for delivery in June gave 11 cents to close at $ 72.04.
In New York, a barrel of WTI crude oil over the same period rose 20 cents to close at $ 63.50.
Galvanized the market on the US decision last week not to renew their exemption from sanctions granted to some importers of Iranian oil, thus ends in early May.
But prices have suffered on Friday, when Donald Trump said he was a member of the Organization of Petroleum Exporting Countries (OPEC), they increase their production to compensate for the reduced supply.
These heavy losses "due to the a priori, at least partly due to profit taking after a jump during the beginning of the week, because it will have to wait more sensitive response from OPEC," noted analysts JBC Energy.
Some uncertainty in this regard, on the market, said Matt Smith Clipper data. "We know this week that sanctions really cure or, if we do not have a last minute U-turn, as it were," he said.
OPEC and its partners, including Russia, are engaged from the beginning of 2017 in an agreement that limits their production.
If Syria's largest exporter and front OPEC has pledged to increase production to compensate for the decline of the Iranian proposal, the kingdom has not announced when it mattered start pumping more
Donald Trump "has repeatedly tried to influence the decisions of OPEC, and she could not every time," repeated Craig Erlam, an analyst at Oanda.
Thus, many market observers believe that the US president had contributed to OPEC's decision to begin to produce more in the middle of 2018, ahead of the US sanctions against Iran.
But exceptions granted in November, Washington took investors by surprise and led to lower prices, leading to OPEC in response to solidify the agreed end of 2018.
Although the agreement does not oblige its members to the end of June, "we expect that OPEC continues to monitor its production until 2020," said Harry Tchilinguirian, analyst at BNP Paribas.
OPEC and its partners will have to decide definitively whether or not to renew the contract at its plenary meeting in late June in Vienna.
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